Originally posted by holymoly
He defiantly has to stop the BS. For example if he puts some commentary out with earning next week, he cant write the same trash like in the last quarterly where they lost 4 weeks due to holidays. Whatever he does say needs to be a little more honest, as that does seem to have lacked the whole way through
DM certainly needs to come clean. People like
@bentas74 enjoy criticising people for being honest or as he puts in negative. The facts, based on all the information we have had over the past 2 plus years is pretty much all bad, or announcements that on the surface seemed positive have now become negative and a drain on the business.
Some facts based on the information available to us
1. Original business model of IoT failed to materialise or has been put on the shelf
2. Early acquisitions failed. Maybe not such a bad thing, we will never know
3. OHMs, exciting concept, clearly ahead of its time, no traction, failing and soon to be put out to pasture, consumer light bulbs next
4. 500 OHMs sold, over 3k ordered and now gathering dust
5. Channel strategy a clear fail, nothing selling, no interest, no news. Digicel, dead. IM on life support, IM Canada dead, Dicker Data, who would know, MacDonalds Australia, nothing, Nestle, nothing and so we go on.
6. Caravan business is the only thing making any money, there is no scale here and no real potential for growth. Without this business BUD would be almost dead
6. Direct sales, we keep hearing there is a pulse here, and then we are told these tenders can take up to a year. BS, tenders do not take a year, this statement allows BUD to sell the hype and buy time to find some revenue
7. Buys a debt laden light bulb business, that has good topline revenue, but plenty of debt, cannot sustain itself. IMO this business is simply a gimmick and will remain a gimmick until the retail prices falls dramatically, when this happens you would have questions its viability.
@bentas74 it would be great if you could outline why you are so positive about BUD and LIfx? and you cant say it is a start up, takes time, its a good story, etc. BUD is not a start up and it has had 2 years to prove out the business model and hasnt. Startups dont burn $12m per annum and have $80m market caps. Please outline your views, I am genuinely interested in hearing from you
This information is based on my own research and does not necessarily reflect all the facts. DYOR
